Travelers - Hartford, CT

posted about 2 months ago

Full-time - Entry Level
Hartford, CT
Insurance Carriers and Related Activities

About the position

The Product Management Development Program (PMDP) at Travelers is designed for individuals who are eager to engage in innovative thinking and data-driven problem solving within the insurance industry. This full-time program offers a unique opportunity to learn and tackle intellectually stimulating business challenges while developing essential skills in product management, pricing, and analytics. Participants will undergo specialized training that encompasses various aspects of insurance, including actuarial science and underwriting, while enhancing their technical and data analysis capabilities. Throughout the one-year rotational program, participants will gain hands-on experience by collaborating with different product teams and leaders across Personal and Business Insurance sectors. The program aims to prepare candidates for a successful career in Product Insurance by providing exposure to real-world scenarios and the chance to work on significant projects that impact the company's product offerings. As part of the program, participants will support data analysis of business results, conduct loss and production analyses, and engage in competitive intelligence projects. They will also consult with Business Intelligence and Analytics teams to inform pricing decisions and collaborate with various teams to drive product profitability. The role requires a proactive approach to learning about the P&C insurance industry and leveraging data analytic skills to make informed recommendations regarding product and pricing strategies.

Responsibilities

  • Participate in specialized training on insurance, actuarial, underwriting, and develop technical/data analysis skills.
  • Support data analysis of business results including product refreshes and performance expectations.
  • Complete analyses with high accuracy, such as loss and production analyses and competitive intelligence projects.
  • Consult with Business Intelligence and Analytics teams on trends and pricing decisions.
  • Review refined recommendations with State Teams based on discussions.
  • Collaborate with different teams across the enterprise to drive product profitability.
  • Take initiative on tasks to learn the P&C insurance industry and analyze competitive data.
  • Present and make recommendations to assigned teams regarding product/pricing changes.

Requirements

  • Bachelor's degree in Finance, Economics, Mathematics, Actuarial Science, or related field.
  • Prior work or internship experience in mathematics, statistics, data analytics, or related area.
  • Excellent communication skills and some past experience in a business environment.
  • Intellectually curious and analytical thinker with a passion for data-driven problem solving.

Nice-to-haves

  • Experience in product management or related fields.
  • Familiarity with the insurance industry and its practices.

Benefits

  • Health Insurance coverage from the first day of employment.
  • 401(k) matching contributions dollar-for-dollar up to 5% of eligible pay.
  • Minimum of 20 days Paid Time Off annually, plus nine paid company holidays.
  • Access to a wellness program with tools and resources for health and caregiving needs.
  • Volunteer encouragement through Matching Gift and Volunteer Rewards programs.
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